Why Did Sandstorm Gold Ltd. (NYSE: SAND) Drop So Much?

Sandstorm Gold Ltd. (NYSE:SAND) traded at $5.72 at last check on Wednesday, August 31, made a downward move of -0.44% on its previous day’s price.

Looking at the stock we see that its previous close was $5.74 and the beta (5Y monthly) reads 0.98 with the day’s price range being $5.715 – $5.90. The company has a trailing 12-month PE ratio of 38.27. In terms of its 52-week price range, SAND has a high of $9.18 and a low of $5.30. The company’s stock has lost about -2.88% over that past 30 days.

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Sandstorm Gold Ltd. has a market cap of $1.10 billion and is expected to release its quarterly earnings report on Apr 27, 2022 – May 02, 2022. With its Forward Dividend at 0.06 and a yield of 1.05%, the company’s investors could be anxious for the SAND stock to gain ahead of the earnings release. Estimates by analysts give the company expected earnings per share (EPS) of $0.04, with the EPS growth for the year raised at $0.18 for 2022 and $0.18 for next year.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $31.4 million, with a low of $31.4 million and a high of $31.4 million. The median projection represents growth squeezing down to 18.70% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2022 is expected to hit $147.88 million, or 28.70% up from figures reported last year.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the SAND stock, short term indicators assign the stock an average of 50% Sell, while medium term indicators assign it an average of 100% Sell. Long term indicators on average place the stock in the category of 100% Sell.

Based on estimates by 11 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 2 have rated the Sandstorm Gold Ltd. (SAND) stock as a Hold, while 7 rate it as a Buy. 2 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Overweight and investors could take advantage and scoop up stock of the company.

Looking further, we note the current price level is -4.68% off its SMA20 and -3.13% from its 50-day simple moving average. The RSI (14) is pointing at 43.48 while the volatility over the past week is 3.72% and jumps to 3.76% over the past one month. The average price target for the stock over the next 12 months is $9.70, with the estimates having a low of $7.50 and a high of $13.25. These price ends are -31.12% and -131.64% off the today’s price level respectively, although investors could be excited at the prospect of a -70.8% if the SAND share price touches on the median price of $9.77.

Let’s briefly compare Sandstorm Gold Ltd. (SAND) stock to its peers. We find that today’s price change of -0.44% and -8.16% over the past 12 months for SAND. Another of its peers Caledonia Mining Corporation Plc (CMCL) has dropped -1.97% today, and was -15.27% down over the past year, while Trilogy Metals Inc. (TMQ) is also down -1.88% yet, while its price remains in the red at -68.78% over the same period. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are today at -0.30% and -0.35%, respectively, in early deals.

Coming back to Sandstorm Gold Ltd. (NYSE:SAND), we note that the average 3-month trading volume was 1.54 million, while that of the preceding 10-day period stands at 1.32 million. Current shares outstanding are 191.43 million.

The insiders hold 3.86% of the company’s shares while institutions hold 47.91%. The data shows that short shares as of Jul 14, 2022, stood at 5.88 million at a short ratio of 3.44. This represents a 2.86% short interest in shares outstanding on Jul 14, 2022. Shares short rose in July from the previous month at 4.97 million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock -7.42% down in year-to-date price movement.

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